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Gold rate today (24th June 2024): Latest price in Indian key cities

Gold rate today (24th June 2024): Latest price in Indian key cities
Finance4 min read
On Monday, gold prices rose across India. In Delhi, 10 grams of 24-carat gold cost ₹ 72,380. On the MCX, June delivery gold contracts increased by ₹150, reaching ₹ 72,230.


Here is an extensive daily list to give you the most recent information on silver prices in India's key cities.

City
22-Carat
24-Carat
Delhi
₹ 66,400
₹ 72,380
Mumbai
₹ 66,250
₹ 72,230
Kolkata
₹ 66,250
₹ 72,230
Chennai
₹ 67,000
₹ 73,100
Bengaluru
₹ 66,250
₹ 72,230
Hyderabad
₹ 66,250
₹ 72,230
Ahmedabad
₹ 66,300
₹ 72,280
Pune
₹ 66,250
₹ 72,230
Surat
₹ 66,300
₹ 72,280
Nagpur
₹ 66,250
₹ 72,230
Kerala
₹ 66,250
₹ 72,230
Vijayawada
₹ 66,250
₹ 72,230

Click to view the details of the gold rate for last Friday

Gold COMEX traded at a last price of 2,337.50, showing an increase of 6.30, or 0.27%. During the session, it reached a high of 2,339.10 and a low of 2,329.50, opening at 2,333.50. The market reflects a modest upward movement, indicating a slight positive sentiment among traders. This performance in the gold futures market suggests stability with minor gains, driven by ongoing market factors and investor activity. Overall, Gold COMEX remains a focal point for commodity investors.

"Gold prices edged marginally higher after softer-than-expected U.S. retail sales data cemented hopes that the Federal Reserve will reduce interest rates this year, sending the dollar and Treasury yields lower. U.S. retail sales rose 0.1% last month, falling short of the 0.3% forecast by economists. Throughout the week, gold prices surged over 1%, reaching their highest level in two weeks, driven by indications of an economic slowdown in the U.S. and expectations of Fed interest rate cuts. While recent data indicated a stable labor market with a decline in jobless claims, soft retail sales and ongoing economic lethargy bolstered bets on monetary easing. Despite a rally from March to May, which saw gold peaking at record highs on May 20, prices have since dropped nearly 6%. A pause in gold purchases by China's central bank and strong U.S. business activity, leading to a stronger dollar and higher bond yields, contributed to the drop in gold prices.'', says Mr. Prathamesh Mallya, DVP-Research, Non-Agri Commodities and Currencies, Angel One Ltd.

The Indian equity market demonstrated robust performance throughout the week, with broad market participation creating a positive trading environment. The benchmark index saw minimal price activity but maintained its positive stance, culminating in a modest gain of 0.15 percent, reflecting market stability and confidence. Despite a truncated week, Indian equities impressed traders, reaching new highs within a narrow range of 270 points. Technically, small-bodied candle formations suggest bulls may need an external trigger to continue their momentum. The Nifty index faces significant resistance at 23,650-23,700, while strong support is observed around 23,400, with crucial support at 23,200-23,100 (20 DEMA), ensuring stability, says Sameet Chavan, Head Research, Technical and Derivative - Angel One

These data points provide valuable insights into market trends and the factors influencing price movements, aiding investors in navigating the gold market effectively. However, investors are encouraged to conduct their own due diligence before making any investment decisions.

Throughout the day, investors should remain vigilant and closely monitor gold rates for emerging trends or market developments. Staying informed about daily price fluctuations can help identify potential trading opportunities and support well-informed investment decisions.

For daily updates and in-depth analysis of gold rates, continue to follow our coverage on Business Insider India.

Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. Rates are subject to change from time to time and across multiple geographical locations. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.

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